Haji Isam's Jhonlin Buys 10 Billion Shares in Bayan
Upon completion of the transaction, Haji Isam's Jhonlin will automatically hold 10,000,000,500 common shares in Bayan Resources.
On September 16, 2026, Bayan Resources, a coal mining company, announced a conditional share purchase agreement with PT Jhonlin Baratama, a subsidiary of the Jhonlin Group owned by businessman Haji Isam, also known as Haji Isam Syamsuddin Arsyad. The agreement pertains to the transfer of 10,000,000,500 common shares in Bayan Resources to Jhonlin. According to Bayan Resources' Director Jenny Quantero, the transaction's completion relies on the fulfillment of several preconditions.
Once finalized, Jhonlin will autonomously own 10,000,000,500 common shares in the coal producer. Quantero reassured stakeholders that the deal would not negatively affect the company's operations, legal standing, financial condition, or business continuity. Bayan Resources' statement addressed market speculation surrounding the corporate action.
Low Tuck Kwong, the company's founder and current President Director, holds a 40.251% stake in Bayan Resources. However, members of the Low family possess additional stakes exceeding 20%, with Elaine Low owning 22.002%. Previously, Quantero revealed that Low Tuck Kwong had previously advised management on potential investment moves, stating that shareholders often seek ways to maximize their investments in the company.
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